India'S Cotton Exports Will Surpass The Record In History

China is a major fiber importing country. The government of India initially estimated that China imported about 8 million 400 thousand bales of cotton as a national reserve, and therefore announced the ban on cotton exports in March.

India Industry Association said Wednesday that India will probably export more than 2 million bales of cotton in the current crop year after the government has allowed exports to resume, so that exports will set a record of 13 million 500 thousand bags.

Last month, thanks to the textile industry Cotton supply India has revised the March cotton export ban, the textile industry is the second largest employment creation industry in India, and India is the second largest cotton producing country and export country in the world. After the lifting of the ban, the India government allowed exporters to resume sea going goods.

　　 India cotton Dhiren N. Sheth, the president of the association, said in a telephone interview with Reuters: "as the demand of Bangladesh and other Southeast Asian countries is very good, we may export more than 150-200 bales of cotton."

According to data from the cotton advisory board (CAB), India has exported 11 million 500 thousand bales of cotton, 170 kg / bag, during the crop year ending September.

China is a major fiber importing country. The government of India initially estimated that China imported about 8 million 400 thousand bags. cotton As a national reserve, the cotton export ban was announced in March.

Sheth estimates that exports will set a record of 13 million 500 thousand packages, nearly 54% higher than the 8 million 800 thousand package export record recorded in 2007-08, which will put pressure on international cotton prices.

The Ministry of Agriculture estimates that cotton production will reach 35 million 200 thousand packs in 2011/12, higher than the 34 million 700 thousand estimate recommended by the Cotton Advisory Committee.

According to the Cotton Advisory Committee data, the carrying stock is about 4 million bales, so the total supply of cotton this year is 39 million 200 thousand packages, and domestic consumption is expected to be reduced from 26 million 700 thousand packages last year to 25 million 200 thousand packages.

Bangladesh, a major textile producer and exporter, has a very good demand for cotton in India. In the past six weeks, the rupee of India has depreciated by nearly 5% against the US dollar, breaking 53 against the US dollar, and India exporters eager to sell cotton to Bangladesh because they will pay the US dollar.

"The price of most India businessmen's contracts is about 92 cents per pound (CIF), which is about 6 cents higher than that of New York cotton.

China's private textile mills are still shopping for cotton, so prices are expected to go further, and Beijing is expected to allow more cotton imports at a low price in May.

China plans to issue new import quotas in May, up to 1 million 500 thousand tons (8 million 800 thousand bales), but it has not yet been announced.